Four Glorious Failure finalists named for $100K in prizes at COIN Summit

DENVER - Four finalists have been selected to win cash and other prizes through the "Glorious Failure" contest sponsored by the Colorado Innovation Network (COIN).

The finalists are vying for $100,000 in prizes in the first-time contest designed to reward and promote companies in advanced industries that faced adversity but continued to move forward.

The finalists are:

Double Helix LLC, Boulder - A University of Colorado startup that develops and commercializes computational optical-digital technologies used in range estimation, super-resolution microscopy and 3D imaging

Lenimen, Denver--A company working on ways to improve screening, identification, risk stratification and development of new care paradigms and pharmacological therapies for chronic obstructive pulmonary disease.

Lightning Hybrids, Loveland--A company that makes a cost-effective hydraulic hybrid system for medium-duty fleets.

Rachio, Denver--A technology startup that makes it easier and less expensive for homeowners to improve their landscapes with products like Internet-controlled irrigation timers.

The four finalists will present their funding proposals to a panel of judges on Aug. 29 during the second annual COIN Summit, a two-day gathering of business leaders to discuss innovation.

Summit attendees will vote to choose the overall winner of the contest, who will receive $50,000 in cash and $25,000 in in-kind business services. Runners-up will receive smaller awards.

"The Glorious Failure Innovation Challenge was created to encourage creativity and reward perseverance," said Catherine Grassman, COIN executive director. "These finalists are shining examples not only of the immense talent being cultivated in the state of Colorado but also the level of drive and commitment these innovators put forth to achieve success."